For cloud-based enterprise software companies, big data provides insights into how to reduce customer acquisition cost (CAC), customer lifetime value (CLTV), and manage many other customer-driven metrics essential to running a cloud-based business.
Without a doubt, this is a topic we have a lot to talk about, and in this content we will explain the most important points.
Big Data Marketing: What is it?
Big Data Marketing is a micromarketing that analyzes albania email list 215428 contact leads consumer patterns, preferences and customer information and offers personalized benefits to the buyer persona.
Recently, there has been an increase from tangible products to intangible products such as finance, distribution, medicine, telecommunications and insurance.
Thus, in order to achieve the primary objective of filtering the enormous amount of data obtained by Marketing, it is made up of a set of processes, tools, techniques and cutting-edge innovations in big data processing that are implemented in an organization to determine the behavior of its potential clients, target audience or buyer persona.
4 advantages of Big Data Marketing
Big Data Marketing is very advantageous and we can summarize its importance in 4 particular benefits, including:
1. Get a 360-degree view of your customers
The concept of Know Your Customer (KYC) was initially conceived many years ago to prevent banking fraud. KYC provides information on customer behavior that was previously limited to large financial institutions.
Now, due to the accessibility of big data, the benefits of KYC are available even to small and medium-sized businesses, thanks to cloud computing and big data.
2. Greater customer engagement
This is, in simple terms, how customers view and interact with your brand; it is a key factor in marketing efforts.
Big data analytics provides the business intelligence you need to achieve positive change, such as improving existing products or increasing revenue per customer.
3. Improved customer acquisition
This is another great benefit of Big Data Marketing. A McKinsey survey found that intensive users of customer analytics are 23 times more likely to clearly outperform their competitors in terms of acquiring new customers.
Leveraging the cloud allows you to collect and analyze consistent, personalized data from multiple sources, including the web, mobile apps, email, live chat, and even in-store interactions.
4. Real-time data and analytics: Pure gold!
Big data can help marketers leverage real-time data in cloud computing environments . Big data's ability to acquire, process, and analyze real-time data quickly and accurately enough to take immediate and effective action cannot be matched by any other technology.
This is critical when analyzing data from GPS, IoT sensors, web page clicks, or other real-time data.
Big Data analytics is an essential component that cannot be ignored, as it provides marketing and business intelligence that translates into time and cost savings by optimizing marketing performance.
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2 examples of Big Data Marketing
The use cases for the possibilities of big data are inspiring, but what does Big Data Marketing look like in practice? These examples show how 2 companies improved their marketing success by using this strategy.
Elsevier uses Big Data to optimize a marketing calendar
Elsevier is the world's largest provider of scientific, technical and medical information, publishing 430,000 peer-reviewed research articles annually.
Big Data and a multi-cloud environment provide an efficient way to closely track journals and books throughout their lifecycle and schedule resources more effectively to optimize production and support marketing.
DMD Marketing Corp. Outperforms Competition by 3x with Big Data
DMD Marketing Corp. offers the only authenticated database available that can reach, inform and respond to the dynamic digital behavior of over six million fully-opt-in U.S. healthcare professionals. To date, DMD has deployed over 300 million emails and 30,000 email marketing campaigns.
Since email marketing for healthcare professionals is a highly competitive commodity business, big data gives DMD a way to differentiate itself.
Using cloud-based Big Data integration tools, DMD updates email data every day, instead of every three days, helping the company outperform the competition with 95% email deliverability.
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